Russian wheat export prices down on low sales activity.
Ram Gopal Yadav (8 years ago)

Russian wheat export prices fell due to low activity in the market ahead of the new crop arrival this summer and because of a continuing trade dispute with Turkey. Russia exported 29.8 million tonnes of grain, including 23.0 million tonnes of wheat down 0.5 percent year-on-year. Russia wheat crop is expected to fall this year, but the country stockpile remains high after a record crop in 2016, and the number of sale offers from farmers is rising. Russia grain stocks at farms and procurement and processing companies, excluding small farms, were up 19 percent from a year earlier at 28.3 million tonnes. Domestic prices for third-class wheat fell 100 roubles compared with the week earlier to 9,500 roubles ($170) a tonne in the European part of Russia on an ex-works basis. Farmers had sown spring grains on 11 percent of the planned area, or on 3.4 million hectares, compared with 4.2 million hectares a year ago.

Offtake of imported wheat picks up in south India.
Ram Gopal Yadav (8 years ago)

The offtake of imported wheat from ports in south India has picked up due to good demand from millers and Stuckists in the region. Traders in south India imported wheat is cheaper than that ordered from northern part of the country. South Indian buyers do not expect prices to fall and are resorting to the imported grain. At present, there is nearly 1.3 million tonne wheat stocked at ports and it is likely to be sold in the next two-to-three months. In south India, imported wheat is available at low cost as compare to domestic wheat costs.

Haryana sees cotton output up 106% in year to Jun.
Ram Gopal Yadav (8 years ago)

Cotton output in Haryana, among the largest producers of the cash crop, is estimated to surge 106% on year to 2.04 million bales (1bale=170kg) in 2016-17 (Jul-Jun) due to a better yield, according to the third advance estimate shared by an official from the state’s farm department. Cotton output in the state had fallen last year after the crop was attacked by white fly. The yield of cotton is seen rising to 609 kg per ha from 274 kg in 2015-16. Production of wheat in the northern state is seen falling 1.8% on year to 11.14 million tonne due to reduction in area under the crop.

MCX cotton pips NCDEX guar seed as top traded farm contract.
Ram Gopal Yadav (8 years ago)

Cotton futures on the Multi Commodity Exchange of India dethroned guar seed futures on the National Commodity and Derivatives Exchange to become the most traded agricultural contract on previous close, by clocking a turnover of 4.08 billion rupees. In international markets too, cotton futures have risen in the wake of falling inventories in China. The Intercontinental Exchange expanded the daily trading limit on cotton no. 2 futures contracts.

India coffee exports during Jan 1- Apr 20.
Ram Gopal Yadav (8 years ago)

Coffee Board of India has finalised its crop estimate for 2015-16 at a record-high of 348,000 tonne, up from 327,000 tonne produced a year ago, but down from previous estimate of 350,000 tn. The board has estimated the output for 2016-17 at 316,700 MT tonne, down 9% on year.

Dairy body to buy 20,000 tonne maize via e-auction.
Ram Gopal Yadav (8 years ago)

The National Cooperative Dairy Federation of India buy 20,000 tonne maize, 9,800 tonne de-oiled rice bran, and 2,550 tonne polished rice through a reverse electronic auction on Tuesday. The commodities, used as cattle feed, will be bought on behalf of the Karnataka Milk Federation. The federation, which has nearly 200 dairy cooperatives as members, has developed an online trading platform to purchase feed stock and sell dairy products.

Delhi wheat down on low demand from coastal states.
Ram Gopal Yadav (8 years ago)

Delhi wheat down on low demand from coastal states. Mill-quality wheat was sold down 20 rupees in Delhi from previous close. Coastal states of Maharashtra, West Bengal, and south Indian states have already imported wheat for their stocks lower than the prevalent prices in north India. This has led to lower demand from these states. Arrivals in Delhi were around 35,000 bags (1bag=100kg). Prices have fallen as demand for wheat from Mumbai, West Bengal, and southern states is weak as there is a lot of imported wheat stocked at ports. India wheat imports in 2016-17 (Apr-Mar) are estimated at a record high 5.5 million tonne of the total imported wheat, nearly 2 million tonne is still unsold.

Govt procures 16.5 million tonne wheat this month, up 13% on year.
Ram Gopal Yadav (8 years ago)

The government today said it has procured 16.5 million tonne wheat since the start of the fiscal year this month, up 12.8% from a year ago. The procurement was the highest in Punjab, where the government has purchased 6.4 million tonne wheat so far, up 12% from the year-ago period. In Haryana, another major producer of wheat, the government has bought 5.7 million tonne of the grain, up 5.6% from a year ago. The government has purchased 3.6 million tonne wheat in Madhya Pradesh, up nearly 15% on year, while in Uttar Pradesh, it has bought 321,105 tonne so far, sharply higher than 105,246 tonne in the year-ago period. The Uttar Pradesh government has set a target to procure 8 million tonne wheat this year, much above the central government’s 3-mln-tn target for the state. The central government has set a target to procure 33.0 million tonne of wheat for the current marketing season, up from 22.9 million tonne a year ago.